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HomeMy WebLinkAboutCity Council Resolution 2575 R~SOLUTION NO. 2575 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA ADOPTING TN~ CONSOLIDATID BUDGET FOR THE FISCAL YEARS I989-91, NAKIN~APPROPRIATIONS AND AUTHORIZING CARRY-OVIRS Tli~RETO AND EXPENDITURES THEREFROM WHEREAS, the City Manager forwarded to the City Council of said City the proposed bedg~t for the City for Fiscal Years 1989-91 on May 24, 19891 and WHEREAS, the City Council did review the proposed budget at a regular adjourned meeting on June 6, 1989, and held a duly advertised Public Hearing on the proposals of the City Manager and the changes made thereto by the City Council in previous sessions and took cognizance of all testimony presented, both oral and written, at its regularly scheduled meetings of June 1989, and June 21, 1'98'9. NOW, THI~EF'ORE, the City Council of the City of Saratoga does resolve as follows: ~~: The City Council hereby approves expenditures in the following amounts for the consolidated budget: O~erating Programs 15,569,150 25,768,498 6~neral (R~vernsent 919,014 948,555 lntragovernsental Services 1,302,903 1,307,369 Capital ProJects ~ Consolidated Budgets $11,035,594 $9,757,444 No expenditures beyond said mounts are authorized without further action by the City Council; any adopted expenditure not expanded shall be carried over to future years for subsequent expenditure authorization. ~a: The following appropriations for Fiscal Years 1989-91 are hereby approve.d: From Current Revenues $9,910,667 $8,723,796 Fro~ Fund Balances 1,124,927 1,033,648 To Reserves . ~,~- -O- Total Appropriations $11,035,594 $9,757,444 Section ~ General reserves shall be used exclusively for the purpose of providing necessary funds for cash flow, emergency operations, and to supplement the Consolidated Budget as needed. Accordingly, a minimum reserve of six months estimated cost for the Consolidated Budget less Capital Projects shall be maintained. Restricted reserves shall be utilized exclusively for the purposes designated in the budget document. No expenditures from the Reserves is specifically authorized, rather, reserves shall be transferred to the appropriate expenditure budget by specific action of the City Council as it deems necessary. Funds remaining in reserves at the end of this fiscal year shall be carried over to future years at the discretion of the City Council. Reserves are budgeted as follows: General $5,686,020 24,526,910 Restricted ~ ~ Totel Reserves 07,446,084 $6,412,435 ~i: This Resolution shall be operational on July 1, 1989, and may be amended from time to time by resolution of the City Council. The above and foregoing resolution was passed and adopted at a regular meeting of th.e Saratoga City Council held on the 21st day of June, 1989, by the following vote: ATe8: Councilm~jrbers Clevenger, Yoyles, Peterson, Stutzman, and Mayor Anderson MOBS: None ABS ~NT: None ATTEST: DepUty City Clerk